Calla Canoe Company is a service based company that rents canoes for use on local lakes and rivers.

Calla Canoe Company is a service based company that rents canoes for use on local lakes and rivers. At the beginning of the new year, Calla Canoe Company decided to carry and sell T-shirts with its logo printed on them. Calla Canoe Company use the perpetual inventory system to account for the inventory. During January 2019, Calla Canoe Company completed the following merchandising transactions: (Click the icon to view the transactions.) Read the requirements. Requirements 1 and 2. Enter the transactions in a sales journal (page 2), a cash receipts journal (page 5. omit Sales Discounts Forfeited column), a purchases journal (page 7), a cash payments journal (page 6), and a general journal (page 4), as appropriate. Total each column of the special journals. Show that total debits equal total credits in each special journal. For purposes of this problem, we will ignore posting references. Begin with page 2 of the sales journal. Enter the transactions and total the journal. (Round all amounts to the nearest whole dollar. If a box is not used in the table, leave the box empty, do not select a label or enter a zero.) Page 2 Invoice No. More Info Sales Journal Post. Accounts Receivable DR Ref. Sales Revenue CR Customer Account Debited Cost of Goods Sold DR Merchandise Inventory CR Date 2019 Jan Jan Totals 1 Purchased 16 T-shirts at $13 each and paid cash. 2 Sold 7 T-shirts for $20 each total cost of $91. Received cash. 3 Purchased 30 T-shirts on account at $16 each. Terms 2/10, n/30. 7 Paid the supplier for the T-shirts purchased on January 3, less discount. 8 Realized 9 T-shirts from the January 1 order were printed wrong and returned them for a cash refund. 10 Sold 20 T-shirts on account for $20 each, total cost of $320. Terms 4/15, n/45. 12 Received payment for the T-shirts sold on account on January 10, less discount. 14 Purchased 190 T-shirts on account at $13 each. Terms 5/15, n/30 18 Calla Canoe Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $10 purchase allowance. 20 Paid the supplier for the T-shirts purchased on January 14, less the allowance and discount. 21 Sold 140 T-shirts on account for $20 each, total cost of $1,834. Terms 1/20, 1/30. 23 Received a payment on account for the T-shirts sold on January 21, less discount. 25 Purchased 400 T-shirts on account at $16 each. Torms 2/10, 1/30, FOB shipping point. 27 Paid freight associated with the January 25 purchase, $40. 29 Paid for the January 25 purchase, less discount. 30 Sold 200 T-shirts on account for $20 each, total cost of $2,862. Terms 1/10, 1/30. 31 Received payment for the T-shirts sold on January 30, less discount.

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